Broker Name: OCBC Investment Research
Date of Report: 13 November 2025

Excerpt from OCBC Investment Research report.

Report Summary:

• ComfortDelGro (CD) reported a 15.4% year-on-year increase in 9M25 profit after tax and minority interests (PATMI) to SGD176.4m, but core PATMI slightly missed expectations due to margin compression in the Taxi & Private Hire segment.
• The company’s 9M25 revenue rose 13.9% YoY to SGD3.8b, helped by new acquisitions and contributions from UK contracts, while its revised fair value is SGD1.74 per share and the stock is rated BUY.

Above is an excerpt from a report by OCBC Investment Research. Clients of OCBC Investment Research can be the first to access the full report from the OCBC Investment Research website : https://www.ocbc.com/personal-banking/investments/research